Cheang Kok Kheong, chief operating officer of Frasers Centrepoint Homes, says he will be âcamping outâ at the Martin Place Residences showflat over the weekend tomorrow and on Sunday, the first weekend of the official launch of the high-end project.

After two weekends of private previews, which saw a total of 150 units snapped up, Frasers Centrepoint Homes officially launched its high-end condominium, Martin Place Residences on Friday, May 29.

Including the 28 units sold last year, as of last Thursday, 178 of a total of 302-units in the freehold development have been taken up. âWeâve actually increased the average price by 5% last weekend [May 23-24],â says Cheang, but adds that the developer will not be adjusting prices upward this weekend for the official launch. Even after the 5% adjustment, the selling price is still 20% lower than the $1,800 psf selling price that units were pegged at a year ago.

While having adjusted price downward by around 20%, the developer had not cut back on the developmentâs original specifications in terms of design, layout, finishing, kitchen and bathroom fittings. Heâs noticed that in the past five to six months, some developers who had slashed prices had also cut back on the quality of their finishes and materials used, and âitâs quite a common industry practice,â he concedes.

âBut we feel that if youâre planning to rent your apartment to expatriates, and if youâre a Singaporean whoâs well-travelled, you would expect a certain level of finishes â good-quality timber flooring, natural marble instead of compressed marble, and kitchen fittings with top-end German brands.â

Given the location on Martin Road, which is a short driving distance to both the Central Business District and Orchard Road, the area is a sought-after residential enclave among expatriates. Apartments in the area tend to fetch good rental, says Cheang, citing that a two-bedroom apartment in the newly completed 545-unit RiverGate across the street from Martin Place Residences showflat was recently leased for $5,500 per month.

Source : The Edge â 29 May 2009

2. Written by News on 29-05-2009 14:24

Releasing more units

Starting today, Frasers Centrepoint Homes will be releasing more units at its 302-unit freehold Martin Place Residences in the River Valley area. It recently sold more than 100 units of the project after it cut prices. The units were released at $1,260 per sq ft (psf) to $1,700 psf, compared with $1,700 psf to $2,000 psf last year.

Chief operating officer Cheang Kok Kheong said prices ranged from $1.5 million for a two-bedder to about $2 million for a three-bedder. He said Frasers was aiming to sell the remaining units at $1,350 psf to $1,700 psf.

3. Written by News on 19-05-2009 03:45

80% of units launched sold

80% of Martin Place Residences units launched sold over weekend

Eighty per cent of the high-end Martin Place Residences condominums launched were sold over the weekend.

A third of the 302 units available have been launched.

The freehold Martin Place Residences is just a few minutes from the heart of Singapore's prime Orchard Road shopping belt.

Developer Frasers Centrepoint said the units were transacted at between S$1,260 and S$1,700 per square foot.

Six in 10 buyers were from Singapore, while the rest were foreigners from countries like Malaysia and Indonesia.

Frasers Centrepoint attributed the strong response to its pricing.

The initial 28 units that were sold last year were priced between S$1,700 and S$2,000 per square foot.

4. Written by News on 12-09-2008 15:58

30 units sold

Frasers Centrepoint has launched and sold about 30 units at its 302-unit Martin Place Residences , with apartments going for about $1,800 per square foot (psf) on average.

Martin Place Residences is in the River Valley neighbourhood in District 9.

5. Written by News on 18-02-2008 02:17

Brand-new launch

The next brand-new launch is likely to be Frasers Centrepointâs Martin Place Residences in Kim Yam Road, due next month.

6. Written by News on 20-01-2008 20:37

New Condo Launching

Martin Place Residences in Kim Yam Road is priced at $1,800 psf to $2,300 psf